Oval has announced its second acquisition in a week. The company said it has acquired Coventry-based commercial broker Halkett for a mixture of cash and Oval shares.

Earlier this week Oval announced its expansion through the acquisition of Birmingham-based Beddis.

It's acquisition of Halkett, the company said, fits into its “evolutionary strategy.”

Halkett currently generates annual brokerage income of more than £2.1m from gross written premiums of approximately £15m.

Oval said the Halkett business will continue to be run by Bob Halkett and his core management team of Michael Neville, Cheryll Rawbone and Tony Hobbs.

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